Funding you earn now, next payment 21:00 UTC−0.0340%/8h= −37.2% APRnext payment −$0.43 per $10,000 · paid last 24h −0.079%
Price spread now: Derive against Coinbase International−0.228%7-day average −0.192% · you buy dearer than you sell
to open and closeno order booka leg has no order-book sample
Funding, last 7 days+0.116%+$12 on $10k
+Price spread, last 3 days (all we have)+0.016%+$2 · spread now −0.228%, 7d avg −0.192%
=Both sides work against this trade now: funding costs −$10 a day on $10k at the current rate, and Derive is 0.036% cheaper against Coinbase International than usual: you would sell low and buy high (−$4 if the spread goes back to its 7-day average of −0.192%). Swap the legs. Mind the row above: over the last 7 days funding on this pair paid +0.116%, so the current rate has only just turned against you.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.116% in total (about 6.1% a year). A funding rate is set anew for every payment; at this rate the next one is about −$0.43 per $10,000. In the chart: green and red are payments made, yellow is the current rate, not paid yet.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Coinbase International ZEC-PERP-INTX | 1,462.1 | 0.0440 | pay 0.0055% / 1h | 6m 22s | $3.7M | $11.6M | 50x |
| Short | Derive ZEC-PERP | 1,458.7 | 0.0100 | get 0.0013% / 1h | 6m 22s | $446K | $498K | 6.7x |
Coinbase International ZEC-PERP-INTX
Derive ZEC-PERPFunding history
latest
Range statsloading…
Price spread between the two exchanges
Derive against Coinbase International. Falling: the short leg gains. Rising: it loses.latest
Price spreadloading…
Funding on every exchange
click an exchange to add or hide itlatest
How often the price spread is this wide · share of time at each level, last 7D show
Profit calculator
- Funding earned
- −$71.4
- Price spread: −0.228% → −0.192%
- −$3.6
- Slippage, 4 orders
- no order book: not counted
- Fee Coinbase International: 5 bp × 2 orders
- −$10
- Fee Derive: 3 bp × 2 orders
- −$6
- Net
- −$91
- Costs to cover
- 0.160%
- Break-even
- never at this rate
Slippage unknown: Coinbase International: live order book, 3 min ago; Derive: no order-book sample. Net counts fees only.
Cost to enter
taker fee + slippage from the mid, one side; closing costs about the same again| Leg | Half-spread | $10k | $100k | $1M | $5M |
|---|---|---|---|---|---|
| Buy Coinbase International live order book, 3 min ago | 2.05 bp | 8.0 bp −$8 | 12.9 bp −$129 | 42.1 bp −$4,206 | doesn't fit |
| Sell Derive no order-book sample | — | — | — | — | — |
Derive: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.
ZEC on 51 venues
lowest funding first. Swap a leg: a good short leg pays more funding and is priced higher.| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Injective ZEC/USDC PERP | −0.3476% | 1h | 1,433.1 | −1.977% | $33K | $275K | 12x | as long as short |
| BloFin ZEC-USDT | −0.0087% | 8h | 1,459.9 | −0.146% | $28.8M | $75.5M | 75x | as long as short |
| Hotstuff ZEC-PERP | −0.0080% | 1h | 1,460.1 | −0.133% | $6K | $2K | 10x | as long as short |
| Kraken Futures PF_ZECUSD | −0.0071% | 1h | 1,459.8 | −0.157% | $17.7M | $44.7M | 25x | as long as short |
| Bybit ZECUSDT | −0.0028% | 8h | 1,460.5 | −0.106% | $269.6M | $677.6M | 75x | as long as short |
| Variational Omni ZEC | −0.0004% | 8h | 1,455.9 | −0.419% | $45.6M | $33.4M | — | as long as short |
| dYdX ZEC-USD | 0.0000% | 1h | 1,460.9 | −0.081% | $411K | $106K | 5x | as long as short |
| Kalshi KXZECPERP | 0.0000% | 8h | 1,460.8 | −0.084% | $934K | $5.7M | 2.2x | as long as short |
| Perpl ZEC | 0.0000% | 43m | 1,459.6 | −0.168% | $83K | $401K | 10x | as long as short |
| Deribit ZEC_USDC-PERPETUAL | 0.0000% | 1h | 1,460.8 | −0.088% | $594K | $1.3M | 25x | as long as short |
Injective ZEC/USDC PERP
BloFin ZEC-USDT
Hotstuff ZEC-PERP
Kraken Futures PF_ZECUSD
Bybit ZECUSDT
Variational Omni ZEC
dYdX ZEC-USD
Kalshi KXZECPERP
Perpl ZEC
Deribit ZEC_USDC-PERPETUALShow all 51 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| gTrade (Gains Network) ZEC/USD | L +0.0007% / S −0.0006% | 1h | 1,461 | −0.073% | $5.2M | — | 150x | as long as short |
| GMX ZEC/USD [WBTC.b-USDC] | L +0.0015% / S +0.0075% | 1h | 1,460.8 | −0.084% | $558K | — | 100x | as long as short |
| Orderly PERP_ZEC_USDC | +0.0016% | 8h | 1,461 | −0.070% | $293K | $1.5M | 20x | as long as short |
| Ondo Perps ZEC-USD.P | +0.0025% | 1h | 1,457.9 | −0.284% | $396K | $515K | 5x | as long as short |
| 01 Exchange ZECUSD | +0.0040% | 1h | 1,460.8 | −0.086% | $8K | $8K | 5x | as long as short |
| Gate ZEC_USDT | +0.0058% | 8h | 1,460.4 | −0.116% | $49.5M | $191.2M | 75x | as long as short |
| OKX ZEC-USDT-SWAP | +0.0058% | 8h | 1,461.5 | −0.036% | $174.5M | $1.37B | 50x | as long as short |
| Katana Perps ZEC-USD | +0.0095% | 8h | 1,460.5 | −0.103% | $14K | $859K | 10x | as long as short |
| Lighter ZEC | +0.0096% | 1h | 1,461.5 | −0.040% | $18.9M | $54.7M | 20x | as long as short |
| Popdex ZECUSDT | +0.0096% | 1h | 1,460.1 | −0.131% | $173K | $2.0M | 50x | as long as short |
| Paradex ZEC-USD-PERP | +0.0100% | 8h | 1,460 | −0.138% | $60K | $39K | 10x | as long as short |
| Aster ZECUSDT | +0.0100% | 8h | 1,460.9 | −0.078% | $15.4M | $33.9M | 75x | as long as short |
| Nado ZEC-PERP | +0.0100% | 1h | 1,460.7 | −0.092% | $2.5M | $7.1M | 10x | as long as short |
| Hyperliquid ZEC | +0.0100% | 1h | 1,461 | −0.072% | $755.6M | $493.6M | 10x | as long as short |
| Pacifica ZEC | +0.0100% | 1h | 1,460.5 | −0.104% | $1.6M | $3.0M | 10x | as long as short |
| Binance ZECUSDT | +0.0100% | 8h | 1,460.7 | −0.094% | $668.1M | $2.53B | 75x | as long as short |
| MEXC ZEC_USDT | +0.0100% | 8h | 1,460.5 | −0.107% | $221.0M | $900.2M | 150x | as long as short |
| KuCoin ZECUSDTM | +0.0100% | 8h | 1,460 | −0.138% | $103.2M | $57.0M | 75x | as long as short |
| Bitget ZECUSDT | +0.0100% | 8h | 1,460.2 | −0.127% | $161.6M | $312.0M | 75x | as long as short |
| BingX ZEC-USDT | +0.0100% | 8h | 1,460.9 | −0.081% | — | $101.7M | — | as long as short |
| Backpack ZEC_USDC_PERP | +0.0100% | 1h | 1,460.9 | −0.078% | $2.3M | $4.1M | 15x | as long as short |
| edgeX ZECUSDC | +0.0100% | 4h | 1,458.9 | −0.218% | $508K | $9.5M | 20x | as long as short |
| GRVT ZEC_USDT_Perp | +0.0100% | 8h | 1,459.2 | −0.194% | $3.0M | $492K | 10x | as long as short |
| ApeX Omni ZECUSDT | +0.0100% | 1h | 1,458.7 | −0.230% | $429K | $815K | 50x | as long as short |
| StandX ZEC-USD | +0.0100% | 1h | 1,460.5 | −0.105% | $109K | $4.8M | 30x | as long as short |
| Polymarket Perps ZEC-USD | +0.0100% | 1h | 1,460 | −0.140% | $344K | $2.0M | 10x | as long as short |
| Bullet ZEC-USD | +0.0100% | 1h | 1,460.2 | −0.128% | $127K | $161K | 20x | as long as short |
| Derive ZEC-PERPshort | +0.0100% | 1h | 1,458.7 | −0.228% | $446K | $498K | 6.7x | |
| SunX ZEC-USDT | +0.0100% | 8h | 1,462.1 | +0.002% | $3K | $1.3M | 20x | as long as short |
| SoDEX ZEC-USD | +0.0100% | 1h | 1,459.9 | −0.146% | $221K | $4.7M | 10x | as long as short |
| HTX ZEC-USDT | +0.0100% | 8h | 1,460.6 | −0.098% | $2.4M | $24.9M | 75x | as long as short |
| Phemex ZECUSDT | +0.0100% | 8h | 1,459.9 | −0.149% | $3.8M | $5.4M | 50x | as long as short |
| Bulk ZEC-USD | +0.0100% | 1h | 1,456.7 | −0.366% | $897K | $26K | 10x | as long as short |
| Phoenix ZEC | +0.0103% | 1h | 1,460.7 | −0.090% | $4.6M | $1.6M | 10x | as long as short |
| Extended ZEC-USD | +0.0104% | 1h | 1,460.8 | −0.084% | $3.3M | $7.0M | 10x | as long as short |
| Aevo ZEC-PERP | +0.0104% | 1h | 1,460 | −0.139% | $36K | $362K | 20x | as long as short |
| RISEx ZEC/USDC | +0.0219% | 1h | 1,461.1 | −0.065% | $843K | $1.8M | 10x | as long as short |
| Coinbase International ZEC-PERP-INTXlong | +0.0440% | 1h | 1,462.1 | long leg | $3.7M | $11.6M | 50x | |
| Aftermath Perps ZECUSD | +0.0486% | 1h | 1,459.8 | −0.152% | $40K | $34K | 10x | as long as short |
| Arcus ZEC-USD | +0.0518% | 1h | 1,461.5 | −0.040% | $743K | $8.0M | 10x | as long as short |
| Lighter RH ZEC | +0.0576% | 1h | 1,462 | −0.007% | $2.0M | $8.5M | 10x | as long as short |
gTrade (Gains Network) ZEC/USD
GMX ZEC/USD [WBTC.b-USDC]
Orderly PERP_ZEC_USDC
Ondo Perps ZEC-USD.P
01 Exchange ZECUSD
Gate ZEC_USDT
OKX ZEC-USDT-SWAP
Katana Perps ZEC-USD
Lighter ZEC
Popdex ZECUSDT
Paradex ZEC-USD-PERP
Aster ZECUSDT
Nado ZEC-PERP
Hyperliquid ZEC
Pacifica ZEC
Binance ZECUSDT
MEXC ZEC_USDT
KuCoin ZECUSDTM
Bitget ZECUSDT
BingX ZEC-USDT
Backpack ZEC_USDC_PERP
edgeX ZECUSDC
GRVT ZEC_USDT_Perp
ApeX Omni ZECUSDT
StandX ZEC-USD
Polymarket Perps ZEC-USD
Bullet ZEC-USD
SunX ZEC-USDT
SoDEX ZEC-USD
HTX ZEC-USDT
Phemex ZECUSDT
Bulk ZEC-USD
Phoenix ZEC
Extended ZEC-USD
Aevo ZEC-PERP
RISEx ZEC/USDC
Aftermath Perps ZECUSD
Arcus ZEC-USD
Lighter RH ZEC